The Wheeling daily intelligencer. [volume] (Wheeling, W. Va.) 1865-1903, 1887-07-23
"a WEEKS TRADING.
TIE BUSINESS PROSPECT
Dun 3 Co.'S. Survey of tho Fisld-Tho Burstel
ia Wheat Bubble Unfnyorable to Farmers.
Lowest Prices In Forty YoArs-Good
Crops Generally Collections Fair. =

al Lowest Pricos In Forty YoArs-Go0d
II y Crops Generally Collections Fair.
!. New YoRK, July pr. G. Dun 1
Co.'s weekly trade review says: Will
bnsineas progressing well throughout III,
country, crop prospects, excellent, iror
, production larger than at any prsviou
period, and money in abundant supply
Wall street la disturbed because a deluslo1
1t has been chasing for months suddenly
fades away and Mr.. Garrett announce
the failure Of Mr.. Ives to buy the Balti
more & Ohio. Tho incident illustrates
the weakness Of Wall street as barome.
ter. For four months the street has beer
dlscouuting the beneficial results OF this
expected settlement, and oil sorta OF pur.
chasee, loans, commitments and calcula.
tions have been based thereon. But for
these, the retention oil the Baltimore 4
Ohio by It's old owners would disturb no.
body. But now litigation involving the
value OF many properties, directly and in
directly, has been commenced, aud may
overcloud them with uncertainty for some
time, and meanwhile no one wants To buy
q share in law suit. v alg.7 : T II
| WHEAT NOT 30 Low IN FORTY YEARS,
Wheat at Sls cents for No. 9 red winter
in July is lower than 1t has been before in
that mouth for more than forty years,
and close to the lowest price for that
period III any month. This is the direct
result OF speculation which drew many
million bushels from farmers hands,
where cost OF carrying was nothing, into
the hands OF dealers who are anxious to
unload before new wheat comes. The
twenty million bushels In a few elevators
are heavier than fifty million bushels
would be in farmers bins. Small pur-
chases from farmers for some time to
come are probable, and the consequent
delay In the demand for money TO use In
crop moving may possibly be helpful,
| ID. A DAY OF Low PRICES. NV
Prices generally arc low, in spite Of
many spectators. AZ evidence Of the
absorption Of floating capital in fixed
forms, and It's effects, 1t may be stated that
tho game quantities OF articles represent
ing nine.tenths Of the aggregate consump-
ton OF the country, which could have
been bought a year ago for 500, would
now cost only about 500 80, and they
were not point higher in January Last.
So small q change in pricea after an ex.
phnsion of s65,0O0,0O0 during the wear in
circulation, is surprising. Cotton is tend.
ing downward, with liquidation following
several important failures, but goods are
comparatively scarce, and prices we'll
maintained. Woolens are as usual uneat-
isfactory, foreign competition at low prices
combining with a stuck demand for 20 DDS
to discourage producers. =
IRON AND STEEL.
/ Some kinds of iren and steel look
stronger, though the market for steel rails
seems lees firm. A sale OF q, 900 tons Of
Beesemer iron at about $40 is reported,
and at the same time large sale Of rails
for Pacific delivery at prices below cur.
rent quotations. Rsporta from all parts
OF the country are uniformely favorable
as to the atate OF trade ior the season
Collections are reported good or fair at all
points save two. Crop prospects are pro.
nounced more favorable, though the ex.
tent OF the damage done by drouth and
land insects cannot be exactly determined.
] LARGE VOLUME OF BUSINESS. i.i.
Failure to enforce the Interstate com.
merce act as.was expected results in dis.
appointment to come locnlitiea, but the
volume Of exchanges and returns Of rail.
load earnings show show that business on
the whole is larger thvn year ago. Anx.
iety about,the supply OF moneytor the fail
revives discussion Of the Treasury one.
rations, but the. indications are that no
purchases Of bonds will be made, IL it can
be avoided. The Treasury has taken in
S. 900, 900 more than itlhaa paid out during
the past week, but large disbursement are
Expected about August /. Exports i'm.
proved for three weeks, having exceeded
last years by per cont. against an in
crease Of l5 6 per cent. on imports. For.
eign exchange tends upwards, however,
and some sales Of securities on foreign &C.
count are reported. 81 z..'-5.
The business failures during the last
seven days number for the United States,
l47; Canada, Is. Total, l72, compared
with l79 last week and 1888 for correspond
ing week of last year. Z $ts5 Afsi.i h